Freeman criticizes the economics profession on the ground that it has improperly accepted the philosophy of laissez‐faire capitalism in five different realms: economic development, unionism and minimum wage laws, socialist central planning versus decentralized markets, military dictatorships...

We argue in this paper that the last best hope for economic prosperity is a system based on private property rights, capitalism and limited government. One of the reasons for this claim is that, in such a system, in contrast to one in which the state plays a large role, when mistakes are made,...

In Block and Barnett (2005), we make the case that the best way to promote peace and prosperity, to protect the environment and fight poverty is to rein in government to the greatest extent possible. Each of our critics (Batten and Szilagyi 2005; Higgins 2005; Jonker 2005) challenges this thesis, and we...